Belpointe Asset Management LLC Cuts Stock Holdings in ONEOK, Inc. (NYSE:OKE)

Belpointe Asset Management LLC lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,212 shares of the utilities provider’s stock after selling 146 shares during the quarter. Belpointe Asset Management LLC’s holdings in ONEOK were worth $1,220,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of OKE. Vanguard Group Inc. grew its stake in shares of ONEOK by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock worth $7,040,075,000 after acquiring an additional 558,789 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in ONEOK by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after purchasing an additional 934,007 shares during the last quarter. Geode Capital Management LLC grew its position in ONEOK by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider’s stock worth $1,405,697,000 after purchasing an additional 357,015 shares in the last quarter. Norges Bank purchased a new stake in ONEOK in the 4th quarter valued at about $539,554,000. Finally, Wellington Management Group LLP lifted its position in shares of ONEOK by 433.4% during the 4th quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider’s stock worth $422,373,000 after buying an additional 3,418,207 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Up 0.8 %

NYSE:OKE opened at $83.21 on Tuesday. The company has a market cap of $51.97 billion, a P/E ratio of 17.41, a P/E/G ratio of 3.77 and a beta of 1.20. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock’s fifty day moving average price is $94.34 and its two-hundred day moving average price is $99.61.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. As a group, analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is 79.69%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Wells Fargo & Company cut their price objective on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Scotiabank lowered their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Morgan Stanley boosted their price target on shares of ONEOK from $111.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Finally, Barclays decreased their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $105.00.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.